Residents in Staffordshire are to benefit from Waitrose’s first store in the region.
The 27,000 sq ft store has recently opened on the residential development site Darwin Park in Lichfield. This Waitrose store is a new development and does not replace an existing store.
This supermarket will serve the many families moving on to the new Darwin Park housing estate. However, Waitrose will also be looking to attract many of its traditional key consumers from the surrounding areas.
The Waitrose Lichfield catchment is dominated by the ACORN group Secure Families, which makes up 21% of the catchment. However, it is the second most dominant group that may have attracted Waitrose to the area. The store’s catchment contains 19% of Wealthy Executives. This group is the most affluent and would be the most likely to shop in this new store.
Other groups that are traditionally attracted to the Waitrose brand include the Affluent Greys and Educated Urbanites. CACI can reveal that the catchment has no Educated Urbanites ACORN groups but there is a reasonably high number of Affluent Greys.
Other groups, such as the Secure Families, may also shop in the new Waitrose but may also continue to shop in its competitors such as Tesco and Sainsbury.
The third group of households within the catchment with high ACORN penetrations is the Struggling Families. This group makes up 13% of the catchment, but is less likely to shop in this new Waitrose store. The Asda and Morrisons stores close by will serve these households.
CACI predicts the store opening is likely to have the most impact on the several Tesco stores close by.
The combined impact could result in Waitrose stealing £34,000 per week from the country’s number one grocer.
Morrisons is another rival that is likely to feel a significant impact, in the order of around £25,000 per week.
There will also probably be an impact for the smaller grocers on the doorstep of the new Waitrose, including Kwik Save, Aldi and The Co-op.
There will be a small impact on the surrounding Sainsbury stores but, despite these losses, Sainsbury should still be able to maintain a strong market share of around 19%.
The big four multiples account for 74% of the grocery market share in this new Waitrose catchment, making it a good example of a supermarket battleground.
CACI predicts that Waitrose should be able to achieve a market share of around 3% within this highly competitive area. There will be little impact on other Waitrose stores, but this new store will help to increase the Waitrose brand awareness in the region.